QIA IN­CREASES STAKE IN ASIAN RE­TAIL GI­ANT

Qatar Today - - AFFAIRS -

Hong Kong's Lau fam­ily and Qatar In­vest­ment Author­ity agreed to pay HK$7.75 bil­lion ($1 bil­lion) to in­crease their stakes in depart­ment store op­er­a­tor Life­style In­ter­na­tional Hold­ings Ltd. (1212)

Thomas Lau, Life­style's chief ex­ec­u­tive of­fi­cer, and his fam­ily hold 50% of the Hong Kong-based re­tailer af­ter ac­quir­ing a 29% stake, trig­ger­ing a manda­tory of­fer for the owner of the Sogo depart­ment stores, ac­cord­ing to a state­ment to the stock ex­change. QIA's hold­ing to­tals 22.8% from pur­chas­ing 2.9% of the com­pany in the trans­ac­tions that were com­pleted De­cem­ber 22, it said.

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